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The Chennai Angels (TCA), on Monday, announced an investment of ₹2.61 crore in Blaer Motors, an NIT-Trichy-incubated start-up based in Chennai.
Founded by four engineering students, Blaer Motors builds and develop technological solutions in the transportation and mobility space, with a focus on developing clean, smart and efficient solutions. It has been working on hybrid and electric drivetrain solutions for two-wheelers and three-wheelers and collaborating with multiple OEMs for commercialising the drivetrain solutions, says a TCA release.
Fuel efficiency
The Chennai Angels’ Investment Director, Vasantha Kumar, the head of Business Development, ABAN Infrastructure Ltd, who led this round of fund-raise, said that Blaer Motors came across as a technologically robust company working on developing hybrid technology for two- and three-wheeler vehicles. This technology will help in both enhanced performance and fuel efficiency of the vehicles. India being the world’s largest two- and three-wheeler market, this innovation will have a huge impact on domestic market. “I believe that Blaer Motors is uniquely positioned to tap the ever-emerging opportunities in the sector,” he said.
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Abinesh Ekambaram, Co-Founder, Blaer Motors, said this is the company’s first round of external investment, and will be utilised mainly for infrastructure development, strengthening R&D team and technology development. The company’s focus is to further optimise the hybrid technologies for motorcycles and expand the product portfolio into three-wheelers and LCVs. “We want to establish Blaer as an indigenous technology provider in the automotive industry, which is dominated by European companies.” he added.
Chandran Krishnan, CEO of The Chennai Angels, said: “The Chennai Angels is betting on Blaer Motors because we share their vision of sustainable transportation and mobility. The hybrid bike runs intermittently on IC, and this will significantly reduce pollution. We believe that there is a bright future for this company in the automobile space as their technology is advanced and reduces cost in acquiring hybrid vehicles in India.”
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